technology blog
19 April

Customer Retention in the Tech World

There is perhaps no better industry than the technology industry in retaining customers over long periods of time and sometimes even over an entire lifetime. You don’t even need to look in the direction of something like a web based platform to see it – something as simple as the light bulbs you use to light up your home make for a perfect example of lifetime customer retention in the tech world. Sure, light bulbs aren’t necessarily high-tech electronics, but perhaps they are if you were to take a closer look at one of those so-called extended lifetime bulbs, because what you’d see inside is a little circuit board which would probably bring up questions around the suspected planned obsolescence we’ve been made wise to in many consumer products.

Switching focus to the “softer” side of the tech world in the form of digital platforms which charge some sort of fee for their access, something like a special VR Casino offer is classically used to make prospects wise to what lies in store for them, prompting them to take advantage of the special offer, after which time they’ll likely become regular users. Of course we’re talking about online casinos in this specific instance, but the model is used in pretty much every digital platform and beyond.

The mentioned segments of the tech world, which admittedly make for a tiny, tiny portion of the greater tech industry, present consumers with somewhat of a choice though because you can choose which light bulb manufacturer’s globes to buy and you can choose which online casino platform to try your luck on. They’ll naturally try to influence your choice with their special offers and features such as extended usage life, but ultimately the choice lies with you.

In many instances however we as consumers don’t have much of a choice when it comes to our retention as customers of the tech world. If you spend some mega bucks on a top-of-the-range gaming PC for example, its components are likely extremely specialised and custom made, so your choice in expanding and upgrading your machine to perhaps improve performance is very limited. This can most definitely make for a minefield for price-fixing and widespread consumer exploitation, but often the manufacturers enjoy large sales volumes and so they’re more than happy to bring prices down to what the market can generally take in its stride.

Things do tend to get a bit shady though and for the most part consumers are limited by way of what they can do about it, but only because of our general need for instant gratification. I mean if you waited six months to get the latest iPhone for example, you’ll get it much cheaper than when it first comes out.

Either way, pretty much any piece of tech one acquires will have them patronising the manufacturers and their partners for a while to come yet, as a result of elements such as after-sales services, upgrades, system updates, compatibility and extensibility issues, etc.

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